Story IP fall continues, long positions must remain cautious.

【Coin World】Story [IP] Since June 11th, the value has decreased by 27%. However, in the past three days, the Token has slightly rebounded, with a 12.89% rise easing recent losses. Despite the recovery, at the time of writing, the market structure still appears clearly bearish. The fluctuation of Bitcoin [BTC] has affected other parts of the market. Given the bearish outlook of the IP, traders should look for selling opportunities. Some analysis has emphasized the key resistance level that needs to be reclaimed as support before the Token can establish an upward trend. Story IP price prediction - the Bear Market is expected to determine the next move.

In May, IP bulls attempted to establish an upward trend. They were able to achieve a bullish market structure shift and push the price above the moving average. However, this attempt was reversed later in the month. Losses over the past two weeks have caused IP to fall to new lows. A set of Fibonacci retracement levels was drawn based on the decline. The levels of $3.41, $3.61, and $3.89 are expected to serve as key resistance levels. OBV has risen over the past week, but the Awesome Oscillator continues to signal a bearish dominance. Price action can be used to resolve these conflicting signals, especially since the daily market structure remains bearish.

A retest of the $3.5 to $3.6 supply zone could provide a sell opportunity. The liquidation heatmap is consistent with this conclusion. The 1-month lookback period heatmap highlights the $3.2 to $3.3 area as well as the $2.4 area as a significant magnetic area in the vicinity. Prices are attracted by liquidity. Before the next bearish move, the liquidation build-up above the local highs could be swept away. This could even make the rally as high as $3.41 – the 50% retracement level. Traders should remain flexible when looking for selling opportunities. There may be volatility in the coming week, which can lead to profits if done correctly.

Disclaimer: The information provided does not constitute financial, investment, trading, or any other type of advice, and is solely the author's opinion.